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NJM Insurance Group Selects Guidewire ClaimCenter

NJM Insurance Group Selects Guidewire ClaimCenter

Guidewire's Claims System Provides New Technology Platform for All Lines of Business
WEST TRENTON N.J. and SAN MATEO Calif., March 15, 2005

NJM Insurance Group, currently the largest property-casualty insurer in New Jersey, and Guidewire Software®, a leading provider of solutions to property-casualty and workers' compensation insurers, today announced that NJM has selected Guidewire ClaimCenter® as its new claims system. ClaimCenter will manage claims for all of NJM's primary lines of business, representing approximately $1.4 billion in annual written premiums in auto insurance, homeowners and workers' compensation.

New Jersey Manufacturers Insurance Company, the parent of the NJM Insurance Group, is a unique policyholder-focused organization that exercises careful stewardship over the use of policyholders' funds, emphasizes prompt, exceptional customer service, and has shared the rewards of efficient operations by returning substantial dividends to policyholders every year since 1918. NJM holds the best records in two key areas - the lowest amount of funds used for underwriting operating expenses, and the lowest incidence of valid consumer complaints about auto insurance since the New Jersey Department of Banking and Insurance began its recordkeeping in 1987. Improving on this unmatched level of service was a major goal in the selection of a new claims system. NJM was also looking for a modern technology platform to help automate and streamline the claims process and provide the flexibility to address its continually evolving business needs.

"We evaluated many of the available claims systems and, in the end, Guidewire ClaimCenter offered us the level of control that we will need to continually respond to changing consumer needs in the unique New Jersey market," said Thomas M. Curry, Esq., NJM Vice President, in charge of the General Claims Department. "After an exhaustive evaluation by dozens of our adjusters, supervisors, and managers, ClaimCenter clearly was the most effective investment of policyholders' dollars toward improving service and controlling operating expenses over the long haul."

Guidewire ClaimCenter's extensive configurability and robust architecture have been proven to support large insurance carriers with complex business processes and systems environments. With ClaimCenter, NJM can tailor the solution to its unique requirements without the custom programming required by traditional systems. A powerful integration layer supports NJM's modern architectural standards and enables interfaces to legacy systems. And with scalability to support thousands of users, ClaimCenter can deliver rapid performance and reliability to the entire NJM claims organization.

Guidewire ClaimCenter is the leading end-to-end claims system for property and casualty and workers' compensation insurance. ClaimCenter's flexible business rules enable claims organizations to optimize and monitor the claims process. Claims executives can define, enforce, and continually refine their preferred claims handling practices. And a modern technology architecture, web client, and web services ensure lower total cost of ownership in any environment.

"We are proud to be selected by NJM Insurance Group, a proven leader in one of the most challenging insurance markets in the United States," said John Raguin, Chief Executive Officer, Guidewire Software. "We look forward to working together through the implementation and are confident that ClaimCenter will support NJM's unique business needs for years to come."

About Guidewire Software

Guidewire is the platform P&C insurers trust to engage, innovate, and grow efficiently. ​We combine digital, core, analytics, and AI to deliver our platform as a cloud service. More than 400 insurers, from new ventures to the largest and most complex in the world, run on Guidewire.

As a partner to our customers, we continually evolve to enable their success. We are proud of our unparalleled implementation track record, with 1,000+ successful projects, supported by the largest R&D team and partner ecosystem in the industry. Our marketplace provides hundreds of applications that accelerate integration, localization, and innovation.

For more information, please visit www.guidewire.com and follow us on Twitter: @Guidewire_PandC.

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